Monday, April 2, 2012

Technical view and trade setup 2.4.2012

Not much to say. The rebound is due to previous forecasts and still the indicators are very mixed. We will need to see a little bit more before we can make any judgments about correction or pullback. So far the bulls are doing fine and this is good way to play out the bears, because still too many investors are waiting a correction or pullback.

Dax is flirting with previous support 6974. Above the level bullish, below bearish. Upside targets are 7014 / 7129.

Even S&P 500 has managed to stay above it's rising trend line.

Sell Basket trade near close. BUY: BB Biotech if open < 61,99. Sell at close.